Jobs and Growth in an Urbanizing Economy
Bangladesh provides a successful example of a country that has been able to support sustainable and inclusive growth through the creation of jobs that are productivity enhancing and poverty reducing. Jobs have had significant positive social and economic externalities even in the face of the relatively low governance typical of low-income countries. This chapter delves into the long-term dynamics of sectoral transformation—underpinned by the modernization of agriculture supported by vibrant outward-oriented non-agricultural growth. Bangladesh’s story also involves the growing economic participation of women, youth, and the extreme poor. Bangladesh’s success has been premised on a realistic policy mix of blending domestic factors of modernization with a relatively open stance on the role of manufactured exports, international labor migration, and rapid urbanization. It provides important insights as to how to promote inclusive growth through sustained and diversified job creation in the context of an industrializing low-income, high-density, labor-surplus economy.
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